Enter word or phrase

Look for articles in

Last Updated Sunday August 19 2018 02:16 AM IST

Mallya's yacht impounded in Malta over wage dispute

Text Size
Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

Mallya's yacht impounded in Malta over wage dispute Mallya is in Britain pending extradition proceedings initiated by India. Photo: Reuters

Valletta: A super-yacht owned by embattled tycoon Vijay Mallya was impounded in Malta after its crew demanded payment of back wages, authorities said on Wednesday. The 'Indian Empress' was blocked in Valletta harbour after the 40-member crew began legal action claiming they are owed almost a million dollars.

The mariners’ union Nautilus International said the yacht was abandoned by its owners. The crew, including Indians, Britons and East Europeans, have not been paid since September, the union said.

It said the court action impounding the yacht is based on a 'maritime lien', under which the crew of a vessel can declare a claim over it to the value of unpaid wages.

A spokeswoman for Mallya's company, UB Group, had no immediate comment.

The 95-metre Indian Empress, registered in the Isle of Man, is estimated to be worth some 93 million dollars.

Mallya is in Britain pending extradition proceedings initiated by India.

He stands accused of fraudulently palming off losses from his now defunct Kingfisher Airlines onto banks by taking out loans he had no intention of repaying.

He denies all wrongdoing and his defence team argue that he is being used as a scapegoat by Indian politicians to deflect public anger at the accumulation of bad debts by state-owned banks.

The 61-year-old, nicknamed 'the King of Good Times' after the slogan on bottles of one of his premium beers and his hard partying lifestyle, has business interests ranging from aviation to liquor.

He is also co-owner of Formula One motor racing team Force India.

Read more: Latest India news

The opinions expressed here do not reflect those of Malayala Manorama. Legal action under the IT Act will be taken against those making derogatory and obscene statements.

Email ID:

User Name:

User Name:

News Letter News Alert
News Letter News Alert